The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 563] NEW DELHI, SATURDAY, DECEMBER 23, 1978/PAUSA 2, 1900 Separate paging is given to this Part in order that it may be filed as a separate compilation.
1588 THE GAZETTE OF INDIA: EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE C entail Board of Direct TaxesNOTIFICATION
INCOME-TAX
New Delhi, the 23rd December, 1978
S.O. 725(E).-In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—
1.(1) Those rules may be called the Income-tax (Ninth Amend-
meat) Rules, 1978.
(2) They shall come into force on the 1st day of January,
1979.
2. In rule 67 of the Income-tax Rules, 1962, for sub-rule
(2), the following sub-rule shall be substituted, namely :—
"(2) The manner of Investment referred to in sub-rule (1)
is the following, namely :—
(i) in Government securities [as not less than 20 per defined in section 2 of the cent of the investible Public Debt Act, 1944 (18 of moneys; 1944)] created and Issued by the Central Govern- ment;
(ii) in Government securities not less than 20 per [as defined in section 2 of cent, of the investible Public Debt Act, 1944 (18 of moneys; 1944)] created and issued by any State Government; or in any other negotiable securities, the principal whereof and interest where- on1 is fully and uncondi- tionally guaranteed by tho Central Government or any State Government;
(Hi) in 7 year National Savings not exceeding 35 per Certificate (Second Issuo cent of the inveslible and Third Issue) or in any moneys; account with tho Post Office Savings Bank in accordance £ with the Post Office (Time
Deposits) Rules, 1970;
(iv) in Central Government not exceeding 25 percent Special Deposit Scheme of the investible moneys.
Explanation : Tho manner of investment specified in this sub-rule shall apply to tho aggregate amount of investible moneys with the fund in the previous year.".
[No. 2623/F. No. 142(18)/78-TPL]
S.N. SHENDE, Secy.